Binance Smart Chain
Poor Key Management
Compromised private key, hot wallet
NeorderDAO is a project that seeks to establish a 'New World Order' for Web 3.0, through a free, decentralized, protocol-driven and emerging internet paradigm where users have autonomy.
The Dev Team reported a security incident where 79M N3DR tokens were stolen. The token price collapsed to 98%. According to the incident report, the FOMO jackpot pool requires a dynamic key to transfer the jackpot as a mechanism to deter cheats. However, teh hacker was able to obtain the source code and then cracked the dynamic key to steal the tokens, or ~$3.3M.
The project was 'audited' by Quill Audits. Not sure why the audit did not detect this attack vector. Which leads one to believe that this incident may be an inside job.
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